Estate Planning Isn’t Just For The Elderly
You have spent your life building financial security, but you have concerns about losing that nest egg if you or your spouse eventually needs long-term care in a nursing home setting. In that situation, New York will review your income and assets to determine...
Many estate planners dedicate a lot of time to avoiding probate. Given that probate can be a very long and drawn-out process, it makes sense as to why you would want to help your heirs avoid it. One way that some Americans attempt to help their heirs avoid probate is...
As a New York parent of a child with special needs, you may need to take extra time and care when making an estate plan so that you do not jeopardize your son or daughter’s eligibility for government benefits. Many parents of children with disabilities create special...
If you have ever experienced a close call while driving, you probably thanked your lucky stars that you avoided a disaster and promptly forgot about it. But what if you become incapacitated in a vehicle crash? Or suffer a stroke? If you have a health care proxy in...
When a medical emergency arises, a living will gives you control over what happens when you are unable to express your wishes out loud. New York does not have a standard living will outline, but there are a number of areas you may want to address when putting together...
If you are like most people, death is not an easy conversation to have. It is tough when you're having that conversation with your adult children. Death is an uncomfortable topic, but it benefits the whole family if you have a conversation with them about your estate...
If you wish to leave your assets to loved ones after passing on, you probably do not want their inheritance eaten up by heavy taxation. In New York, there are both state and federal estate taxes. However, proper estate planning may result in the reduction of these...
An executor of a will has many important responsibilities they must handle. This person will assume your role in financial matters after you are gone to ensure debt repayment, disperse inheritances, and other tasks. Because the role is so crucial to your estate and...
As a parent, you should make sure that you plan for the unfortunate event of your death. If you fail to plan, your child could end up in the foster care system, separated from the people who love him or her. The best way to plan is to name a guardian in your will. The...
Drafting an estate plan is not always a pleasant prospect, but it is necessary for ensuring your family is cared for after your death. Understanding what goes into an effective plan may make the task less daunting. An estate plan expresses your wishes regarding who...